Clover Pakistan Ltd said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was a loss of 968,750 rupees, compared with a loss of 78,130 rupees in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin rose to 19.0% from negative 0.7% in the year-earlier period.
Total revenue decreased 16.9% on an annual basis to 9.0 million rupees from 10.8 million rupees, and total operating expenses fell from the prior-year period to 10.5 million rupees from 10.9 million rupees.
Reported net income came to 2.1 million rupees, or 23 paisa per share, compared to a loss of 2.9 million rupees, or a loss of 31 paisa per share, in the year-earlier period.
As of Feb. 27, US$1 was equivalent to 101.83 Pakistani rupees.
